LTC Properties, Inc. announced that it has entered into a note purchase agreement for a private placement of 3.66% senior unsecured notes for gross proceeds of $75,000,000 on May 17, 2022. The notes will be issued at par, will have an average life of approximately 10 years, scheduled principal payments and will mature on May 17, 2033. The transaction will include participation from Massachusetts Mutual Life Insurance Company, The Lincoln National Life Insurance Company, Thrivent Financial for Lutherans, and Massmutual Ascend Life Insurance Company.

The notes will not be transferred in denominations of less than $1,000,000. The company may, at its option, prepay at any time all, or from time to time any part of, the notes, in an amount not less than $1,000,000, and increments of $100,000 in excess thereof, of the aggregate principal amount of the notes then outstanding in the case of a partial prepayment, or such lesser principal amount of the notes as shall then be outstanding, at 100% of the principal amount so prepaid, plus interest thereon to the prepayment date and the make-whole amount determined for the prepayment date with respect to such principal amount. The transaction is expected to close on May 17, 2022.